My wife knew that I’ve few Credit Cards and I’m not good at managing them – proper usage, payment schedules etc. Here are few of her babbles which she lectured me after she read some article about how to be a smart Credit Card user.

Credit card usage usually follows the predictable cycle of impulsive buying and overspending. That’s why there are many opponents as votaries of plastic money. Of course, credit cards need not be a losing proposition, if you use them smartly and safely.

Use during dire consequences

Unless you’re rich enough to flaunt your extra money, it is best to keep your Credit Card just for emergency cases. May be to use as a payment at a hospital when you don’t have enough cash in hand or your debit card account is less. However, what other events constitutes an emergency? It will depend on your individual perception but here is a rule – if you can delay buying that and won’t hurt you, it’s not an emergency.

However, todays youth believes in instant gratification, an emergency could mean buying that much-needed extra pair of jeans. This is NOT an emergency.

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